Smart Cards for Banking and Finance

  • Konstantinos Markantonakis
  • David MainEmail author


The banking industry managed global payment for consumers over several decades using magnetic stripe card technology. Fraud has always been an issue to manage and it grows over time with the increase of card usage. This coupled with fresh technologies on the horizon led to the adoption of smart card technology to bear down on fraud and open the way for new forms of payment. The major Payment System operators developed a global specification (EMV) describing the technical and security requirements for the physical card to terminal environment, whilst other initiatives addressed contactless opportunities and Internet Payment. This chapter looks into the technical and security details of the EMV specifications along with aspects of the additional security in e-commerce and enhanced smart card-based authentication .


Payment cards Magnetic stripe cards EMV Chip PIN Dynamic passcode CNP 3D secure E-commerce Token authentication 


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Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  1. 1.Smart Card Centre, Information Security GroupRoyal Holloway, University of LondonEghamUK
  2. 2.DMTechno Ltd.ReadingUK

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